Park Place Capital Corp Acquires 907 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Park Place Capital Corp boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 182.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,405 shares of the business services provider’s stock after purchasing an additional 907 shares during the quarter. Park Place Capital Corp’s holdings in Broadridge Financial Solutions were worth $288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. bought a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $34,000. Manchester Capital Management LLC increased its stake in Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after acquiring an additional 60 shares during the last quarter. Headinvest LLC bought a new stake in Broadridge Financial Solutions in the 3rd quarter worth approximately $32,000. BKM Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $37,000. Finally, Exchange Traded Concepts LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $39,000. Institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares in the company, valued at approximately $1,875,944.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a research note on Friday. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $196.56 on Tuesday. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 33.54 and a beta of 1.04. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a 50 day moving average price of $198.15 and a 200-day moving average price of $200.02. Broadridge Financial Solutions, Inc. has a one year low of $161.85 and a one year high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. Broadridge Financial Solutions’s revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s payout ratio is currently 54.61%.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.